SEC Seeks Comment on Alternative Uptick Rule

The comment period on proposed changes to the SEC's short sale rules has been extended for 30 days so that the public may comment on an alternative approach to short selling price test restrictions. The alternative would allow short selling only at an increment above the national best bid. This alternative uptick rule would not require monitoring of the sequence of bids to determine whether the current national best bid is above or below the previous national best bid. According to the SEC, this approach may be more effective and easier to implement than previously proposed price test restrictions currently under consideration.

See Release No. 34-60509.

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